Apple is the #1 USA Tax evader
10-14-2015, 05:53 PM
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Apple is the #1 USA Tax evader
How many products do you own (support) in this list? 
Talk about corporate greed, if you own any of these products, you essentially support tax evasion.
http://www.huffingtonpost.ca/2015/10...anada-webmail1
Talk about corporate greed, if you own any of these products, you essentially support tax evasion.
http://www.huffingtonpost.ca/2015/10...anada-webmail1
10-14-2015, 06:38 PM
#2
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If you don't like tax laws, petition congress to pass the Fair Tax or whatever you think is a better idea. But complaining about perfectly legal tax AVOIDANCE by calling it the illegal activity of tax EVASION is just lame. Not that I'd expect anything better from the HuffPo.
The purpose of being in business is to make profit. Companies are about making money. Publicly-traded companies are supposed to maximize value for shareholders. If they can manage to legally avoid taxation, good for them.
The purpose of being in business is to make profit. Companies are about making money. Publicly-traded companies are supposed to maximize value for shareholders. If they can manage to legally avoid taxation, good for them.
10-15-2015, 11:00 AM
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While that 60 billion would help immensely, it's just a drop in the bucket compared to the actual issues going on in D.C. The problem is you are assuming this to be an act of deliberate tax evasion which IS illegal, but what the article fails to accurately express is that the figures given are for world wide sales. Apple is responsible for taxes on business that occurs on US soil. There is no law, nor should there be, mandating that all business occur in the confines of the country's borders. What is being proposed by the article in fact taxing any and all business transactions, which would force companies to close doors and conduct all business off shore entirely. The results of that action are obvious! This has nothing to do with unscrupulous activity and everything to do with business/wealth envy. Apple manufactures products in China. Why? It's cheaper to produce. Apple has meetings with foreign investors. Why, because they won't come to you! Apple sells products and conducts business in other countries. Why? The United States is far from the only market. These "tax heavens" that the author is griping about are legitimate markets that Apple also conduct business in; and in turn help make the product less expensive to produce. If you want to discuss the problem:
According to usdebtclock.org as of 10:45am (est) today, corporate income tax amounts to an approximate 351.8 billion of the ~1.55 trillion collected in federal income tax revenue. That's around 22.8% and does not even account for corporate welfare which actual figures are difficult to pin down without extensive research, but seem to be nearing to 100 billion mark as of 2006. One can only fathom how much that has grown over the better part of a decade.
The data on all subsidies paid in 2015 can be found here: http://www.goodjobsfirst.org/subsidy-tracker
In collecting the data for 2015 alone $143,945,421 alone was paid in the form of a grant. That's 40% of paid corporate income tax!! Even though some of that is paid in the form if research grants with arguably beneficial results, if you gave 40% of your income away to charity I dare say your economic future would be sour.
Now if you think that is bad take a look at the $1,822,999,109 (1.8 TRILLION) that our government gave away in the form of loans! That number alone exceeds total income tax revenue! While many of these loads are 7(a) SBA loans which are arguably well intended for the people of the USA, the measly 2.25% interest collected is roughly 200% estimated inflation. That figure is pathetic! Add to that figure the default rate of 41%, there is almost no money made on those 587 loans amassing 1.158 trillion dollars. And in fact a sizable loss of 475 billion dollars ($474,906,362.) That’s a loss sum greater than all of federal corporate tax revenue amassed last year alone!
Now I despise the term "corporate greed." Businesses exist to make money, charities are the ones that are supposed to play Robin Hood. If a business is not profitable it shall cease to exist... with the exception of our corporate welfare programs as mentioned above.
What is broken here is not the matter of business practices, it's government allowing the tax payer to foot nearly 80% of tax revenue while handing a fair amount of corporate income tax back to those corporations like said corporate welfare program. Last I checked we pretend to be a capitalist society. Some social welfare programs are beneficial to the individual but should be strictly limited to the individual. Handing a failing business money is not perpetuating economic stimulus, it's creating dead weight. When even on paper corporate income tax equates to less than 1.5% of Gross Domestic Product, there is a problem. In the early 1950's that number soared to 6% and subsequently dropped to the levels seen today.
Apple is obeying the law here and is not so much an issue. They as an international corporation are not bound solely to the economy of the United States. In fact if the US even tried to hold them accountable for the remaining sum they could just as easily close shop here and take their business elsewhere.
What is the answer? That is a good question!
Larger corporate tax burden would hurt the consumer via trickle down, but to what extent? And as I see it, this is unavoidable
I think we can all agree that the government handouts and shady deals need to come to an abrupt halt. As citizens of the US that is power you have! Get vocal, become politically active and hold your legislators accountable.
GDP is lower than our national debt! That is pretty much it for the USA’s financial future.
Our federal budget deficit exceeds, by tens of billions of dollars mind you, the interest owed on the national debt.
Pretty much, it’s not the fault of the business. The Federal government has f*cked us all.
According to usdebtclock.org as of 10:45am (est) today, corporate income tax amounts to an approximate 351.8 billion of the ~1.55 trillion collected in federal income tax revenue. That's around 22.8% and does not even account for corporate welfare which actual figures are difficult to pin down without extensive research, but seem to be nearing to 100 billion mark as of 2006. One can only fathom how much that has grown over the better part of a decade.
The data on all subsidies paid in 2015 can be found here: http://www.goodjobsfirst.org/subsidy-tracker
In collecting the data for 2015 alone $143,945,421 alone was paid in the form of a grant. That's 40% of paid corporate income tax!! Even though some of that is paid in the form if research grants with arguably beneficial results, if you gave 40% of your income away to charity I dare say your economic future would be sour.
Now if you think that is bad take a look at the $1,822,999,109 (1.8 TRILLION) that our government gave away in the form of loans! That number alone exceeds total income tax revenue! While many of these loads are 7(a) SBA loans which are arguably well intended for the people of the USA, the measly 2.25% interest collected is roughly 200% estimated inflation. That figure is pathetic! Add to that figure the default rate of 41%, there is almost no money made on those 587 loans amassing 1.158 trillion dollars. And in fact a sizable loss of 475 billion dollars ($474,906,362.) That’s a loss sum greater than all of federal corporate tax revenue amassed last year alone!
Now I despise the term "corporate greed." Businesses exist to make money, charities are the ones that are supposed to play Robin Hood. If a business is not profitable it shall cease to exist... with the exception of our corporate welfare programs as mentioned above.
What is broken here is not the matter of business practices, it's government allowing the tax payer to foot nearly 80% of tax revenue while handing a fair amount of corporate income tax back to those corporations like said corporate welfare program. Last I checked we pretend to be a capitalist society. Some social welfare programs are beneficial to the individual but should be strictly limited to the individual. Handing a failing business money is not perpetuating economic stimulus, it's creating dead weight. When even on paper corporate income tax equates to less than 1.5% of Gross Domestic Product, there is a problem. In the early 1950's that number soared to 6% and subsequently dropped to the levels seen today.
Apple is obeying the law here and is not so much an issue. They as an international corporation are not bound solely to the economy of the United States. In fact if the US even tried to hold them accountable for the remaining sum they could just as easily close shop here and take their business elsewhere.
What is the answer? That is a good question!
Larger corporate tax burden would hurt the consumer via trickle down, but to what extent? And as I see it, this is unavoidable
I think we can all agree that the government handouts and shady deals need to come to an abrupt halt. As citizens of the US that is power you have! Get vocal, become politically active and hold your legislators accountable.
GDP is lower than our national debt! That is pretty much it for the USA’s financial future.
Our federal budget deficit exceeds, by tens of billions of dollars mind you, the interest owed on the national debt.
Pretty much, it’s not the fault of the business. The Federal government has f*cked us all.
10-15-2015, 06:35 PM
#4
Super Moderator
The Fair Tax proposal is the answer, but Congress doesn't seem inclined to rob itself of power like that, for several years running when it's been a bill in every session.
10-16-2015, 08:15 AM
#5
Moderator
Both parties are discussing the issue for another higher tax bracket, but only Trump (and a couple others) are pointing out the fact that it wouldn't matter how high the tax is for the wealthy, they would evade it. That's why he proposes the Fair Tax and the higher taxation of imports.
Just the top half dozen of this list paying its taxes would tear down our deficit by $1 trillion.
Just the top half dozen of this list paying its taxes would tear down our deficit by $1 trillion.